German funder GRENKE Group
has reported 39.4% growth in total new business to €693m during the
year to 31 December.
New leasing business was up
43.3% to €649.9m, while factoring fell by 1.2% to
€43.1m.
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Leasing grew significantly in
all of the company’s large international markets: France grew by
54.4%, Italy was up 157.9% and the UK rose by 139.6%. The only
market to decline was Poland, down 15% to €9.6m.
Deputy chairman Dr Uwe Hack
said: “We grew our refinancing basis again in the fourth quarter of
2010. We signed an additional asset-backed commercial paper
programme with UniCredit for our French lease
receivables.
“These factors, combined with
a stable outlook and the fact we have no significant maturities of
bonds in 2011, mean everything is in place to take advantage of
growth opportunities in 2011.”
The company also opened a new
branch office in Arese in Italy, and entered a franchise agreement
in Slovenia.
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